Soybeans rose 4 to 5 ½ cents on Tuesday, with the national average cash bean price at $10.00 1/2. Soymeal futures dropped $1.40 to $2.60, while Soy Oil futures increased by 102 to 129 points.

The Treasury released guidance on the 45Z tax credit, impacting bean oil prices and reducing uncertainty.

USDA’s Fats & Oils report for December showed 229.84 million bushels of soybeans crushed, slightly below estimates. Yearly crush is up 5.59% from last year.

EU soybean imports from July 1 to February 1 totaled 7.29 MMT, down 1.33 MMT from the previous year.

Soybean futures closed at $10.65 3/4 on Mar 26, with nearby cash at $10.00 1/2, May 26 at $10.77 1/4, and Jul 26 at $10.90 1/2.

Read more at Yahoo Finance.: Soybeans Get Strength from Bean Oil Gains